New tool unveiled to help students determine college costs - NEWS10 ABC: Albany, New York News, Weather, Sports

New tool unveiled to help students determine college costs

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ALBANY, N.Y.—A new tool that will help students and families better understand financial aid award letters from colleges was announced by Governor Andrew Cuomo Wednesday.

This new tool will also get bottom line costs before making a final decision.

The Financial Aid Award Letter Comparison Tool, available at HESC.ny.gov is free and safe to use.

"Choosing the right college is a decision that lasts a lifetime but navigating and comparing financial aid offers can be confusing. Our Comparison Tool makes the real price of attending college more transparent so families can know what they're getting into ahead of time. I encourage students to log on to HESC.ny.gov to learn more," said Governor Cuomo.

The report also recommends the potential income required after graduation, based on an occupation chosen by the user, to be able to pay back student loans.

The New York State Higher Education Services Corporation (HESC) used current data from the U.S. Bureau of Labor Statistics to provide median salary estimates for certain occupations.

This new tool generates side-by-side comparisons, highlights net costs, and estimates the full two or four-year cost of each college.

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